David Hasselhoff’s reality show The Hasselhoffs has been cancelled after two episodes and RadarOnline.comhas learned why.

“The show was cancelled because the ratings were low,” a source with the show told RadarOnline.com exclusively. “It didn’t perform and the decision was made to pull it off the air. This is one of the fastest A&E has ever pulled a show off the air.”

The first episode drew 718,000 viewers while the second one drew 505,000. There are eight remaining episodes that were set to air.

When contacted by RadarOnline.com about the news, Hasselhoff’s rep Judy Katz responded, “He is on stage for opening night in London for Captain Hook, that’s what we’re worried about.” He is appearing in a pantomime version of Peter Pan at the New Wimbledon Theatre in Southwest London from December 10 through January 16, 2011.